Millions of pounds of the Queen’s private money is invested in offshore funds in the Caribbean – a huge leak of financial documents referred to as the ‘Paradise Papers’ has revealed.

The papers show that the Duchy of Lancaster – which manages investments for the Queen’s £520m private estate – reportedly invested around £10m in funds in based in Bermuda and the Cayman Islands.

They also show that the monarch holds investments via funds in businesses including off license chain Threshers and BrightHouse – which has been accused of exploiting people with mental health problems and learning disabilities in order to sell its products.

The 13.4 million documents – which have been dubbed the Paradise Papers – also reveal that Donald Trump’s Secretary of Commerce Wilbur Ross owns a stake in a firm linked to Russian businessmen who are the subject of US sanctions.

The papers were obtained by German newspaper Süddeutsche Zeitung and are being analysed by 100 media organisations across the world.